Realty Income Corporation

Realty Income Corporation (NYSE: O) is a real estate investment trust known as "The Monthly Dividend Company" for its practice of paying investor dividends on a monthly rather than quarterly basis. It is chartered in the state of Maryland and has its headquarters in San Diego, California. As of December 31, 2014, the company owns over 4,300 commercial real estate properties in 49 states, with a total market capitalization of approximately $16.1 billion. In March 2015, the company was added to the S&P 500.

History

Realty Income Corporation was founded in 1969 by William E. Clark and Evelyn J. Clark. Its first acquisition was a Taco Bell restaurant in early 1970. Initially, the company focused on acquiring properties from the Clarks’ development company, which engaged in land acquisition, construction, leasing, and sales of fast food restaurant properties. The company used cash to purchase the land needed for stores that required real estate to run, and then leased the property to the stores long term. The company did not use mortgages, and focused on picking chain stores and restaurants that had positive long-term prospects in terms of staying open.